Documente Academic
Documente Profesional
Documente Cultură
El-Hoss
Control
Accounts
www.igcseaccounts.com
Prepared by D. El-Hoss
2
1
Ian Selkirk is a sole trader who maintains a full set of accounting records. He divides his
ledger into three sections general ledger, purchases ledger and sales ledger.
For
Examiners
Use
(a) State and explain one advantage of dividing the ledger into these three sections.
..........................................................................................................................................
..........................................................................................................................................
......................................................................................................................................[2]
(b) Name two accounts which would appear in the general ledger.
(i)
...................................................................................................................................
(ii)
...............................................................................................................................[2]
(c) Ian Selkirk prepares control accounts for his purchases and sales ledgers at the end of
each month.
On 1 April 2003 the balances brought down on the control accounts were
$
1960 credit
1750 debit
100 credit
www.igcseaccounts.com
$
4190
5150
135
270
Purchases Journal
Sales Journal
Purchases Returns Journal
Sales Returns Journal
The Cash Book for April 2003 showed
Cheques received from debtors
Cheques paid to creditors
Cheque paid to debtor in respect of
overpayment
Discount allowed
Discount received
$
4990
3830
100
110
180
Prepare Ian Selkirks Purchases Ledger Control account and Sales Ledger Control account
for the month of April 2003. Bring down the balances on 1 May 2003.
0452/03/M/J/03
Prepared by D. El-Hoss
3
For
Examiners
Use
www.igcseaccounts.com
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0452/03/M/J/03
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Prepared by D. El-Hoss
10
3
Mohammed Hanif maintains a full set of books of prime (original) entry and prepares a
sales ledger control account and a purchases ledger control account at the end of every
month.
For
Examiner's
Use
www.igcseaccounts.com
UCLES 2009
0452/03/M/J/09
Prepared by D. El-Hoss
11
REQUIRED
(a) Select the relevant figures and prepare Mohammed Hanifs sales ledger control
account for the month ended 30 April 2009. There is only one balance on the account
at the end of the month.
For
Examiner's
Use
Where a traditional T account is used it should be balanced and the balance brought
down on 1 May 2009. Where a three column running balance account is used the
balance column should be up-dated after each entry.
Mohammed Hanif
Sales ledger control account
www.igcseaccounts.com
[10]
(b) State one reason why it is possible to have a credit balance brought down on a sales
ledger control account.
[1]
UCLES 2009
0452/03/M/J/09
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Prepared by D. El-Hoss
12
(c) State where each of the following items will appear in a purchases ledger control
account. If the item will not appear in a purchases ledger control account write No
entry.
For
Examiner's
Use
Item
(i)
Purchases returns
(ii)
Cash purchases
(iii)
Discount received
(iv)
debit
[3]
www.igcseaccounts.com
[2]
UCLES 2009
0452/03/M/J/09
Prepared by D. El-Hoss
13
Mohammed Hanifs accountant informed him that the accounting statements prepared at
the end of the financial year provide only a limited amount of information about the
business.
For
Examiner's
Use
REQUIRED
(e) State how each of the following may be regarded as a limitation of accounting
statements.
The first one has been completed as an example.
(i) Historic cost
All transactions are recorded at the actual cost price.
It is difficult to compare transactions taking place at different times.
www.igcseaccounts.com
[2]
[2]
[Total: 20]
UCLES 2009
0452/03/M/J/09
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Prepared by D. El-Hoss
4
2
Suzie Chow is a trader. She maintains a full set of books of prime (original) entry and
prepares a sales ledger control account and a purchases ledger control account at the end
of each month.
For
Examiner's
Use
REQUIRED
(a) State two advantages of preparing control accounts.
(i)
(ii)
[2]
Suzie Chow provided the following information for the month of September 2010.
September 1 Debit balances in sales ledger
Credit balance in sales ledger
$
21 976
54
www.igcseaccounts.com
REQUIRED
(b) Select the relevant figures and prepare Suzie Chows sales ledger control account for
the month ended 30 September 2010.
There is only one balance on the account at the end of the month.
Where a traditional T account is used it should be balanced and the balance brought
down on 1 October 2010.
Where a three column running balance account is used the balance column should be
up-dated after each entry.
UCLES 2010
0452/22/O/N/10
Prepared by D. El-Hoss
5
Suzie Chow
Sales ledger control account
For
Examiner's
Use
[11]
www.igcseaccounts.com
(c) Explain the meaning of a contra entry in connection with control accounts and explain
why such an entry may be made.
[2]
(d) Explain why the information used to write up Suzie Chows sales ledger control account
is obtained from books of prime (original) entry and not from the sales ledger.
[2]
UCLES 2010
0452/22/O/N/10
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Prepared by D. El-Hoss
6
Suzie Chows financial year ended on 30 September 2010. Her total sales for the year were
as follows.
$
Cash sales
95 000
Credit sales
275 000
For
Examiner's
Use
She allows her credit customers a period of 21 days in which to pay their accounts.
REQUIRED
(e) Using the closing balance on the sales ledger control account you prepared in (b) and
the above information, calculate the debtors collection period. Your answer should be
rounded up to the next whole day.
Show your workings.
[2]
(f) Suggest three ways in which the collection period for debtors may be improved.
(i)
www.igcseaccounts.com
(ii)
(iii)
[3]
[Total: 22]
UCLES 2010
0452/22/O/N/10
Prepared by D. El-Hoss
11
4
Ruth Van Zyl is a trader who maintains a full set of accounting records. She divides her
ledger into three sections general ledger, sales ledger and purchases ledger.
For
Examiner's
Use
REQUIRED
(a) State one advantage of dividing the ledger into these three sections.
[1]
Ruth Van Zyl prepares control accounts at the end of each month and provided the
following information.
$
1 September 2012
Debit balances in purchases ledger
210
Credit balances in purchases ledger
9 530
Totals of the journals on 30 September 2012
Purchases journal
Purchases returns journal
11 740
1 160
8 730
270
UCLES 2012
www.igcseaccounts.com
0452/21/O/N/12
90
160
?
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Prepared by D. El-Hoss
12
(b) Prepare Ruth Van Zyls purchases ledger control account for the month of
September 2012.
For
Examiner's
Use
Where a traditional T account is used it should be balanced and the balances brought
down.
Where a three column running balance account is used the balance column should be
updated after each entry.
Ruth Van Zyl
Purchases ledger control account
www.igcseaccounts.com
[11]
2
[2]
UCLES 2012
0452/21/O/N/12
Prepared by D. El-Hoss
13
(d) State where each of the following items will appear in Ruth Van Zyls sales ledger
control account. If the item will not appear in a sales ledger control account write
No entry.
For
Examiner's
Use
debit
Sales returns
Bad debt written off
Provision for doubtful debts
Credit customers cheque dishonoured
[4]
Transferred the balance of $500 from Ansies account in the purchases ledger to her
account in the sales ledger.
REQUIRED
www.igcseaccounts.com
(e) Prepare journal entries to record the above transactions. Narratives are required.
Ruth Van Zyl
Journal
Debit
$
Credit
$
[6]
[Total: 24]
UCLES 2012
0452/21/O/N/12
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